Auto appraisers have existed since the first automobile hit the public market in 1885. Insurance companies, financial institutions, collector car auctions, lawyers, bankruptcies, and charitable donations all require a certified auto appraisal to be performed. All entities want documentation showing what the vehicle is worth and for it to be certified by a qualified auto appraiser. Professional auto appraisals require certain information to be in the report, or they can be rejected for not showing accurate information to support the vehicle value.
The main parts of an auto appraisal include actual cash value or ACV, fair market value, Blue or Black Book Value, Objective: Investigate, Claim, etc., Date of Loss, Subject: car, truck, boat, motorcycle, rv, etc., market comparables, vehicle options (2WD or 4WD) and vin verification.
For diminished value appraisals, the main parts that are included in the report are before and after values, date of loss, dealership quotes, estimator’s repair estimate or bill, market research, vehicle history and investigation work. Most commonly used vehicle history report is a Carfax report.
Also auto appraisals can be performed for stated value, replacement value, bonded titles, charitable donations, lease turn-in, wholesale value, reimbursement value, replacement value, heavy equipment, standard presumptive value, total loss claims, pre-purchase inspections, long-term investments, third party claimants, no-fault claimants, uninsured motorist, insurance policies, classic or antique cars, collector or vintage cars, custom cars, commercial vehicles, utility trailers and recreational vehicles.
When a wrecked or physically damaged vehicle is repaired, an auto damage estimator will write or perform a repair estimate for repairs. Usually this is performed on software programs such as audatex, penpro, autosource or ccc pathways. These are the most common used estimating software programs.
At Pinnacle Auto Appraisers, we perform certified auto appraisals the correct way. We make it a routine to follow the guidelines of the Uniform Standards of Professional Appraisal Practice (USPAP). Our company is a national appraising company with regional offices all over the United States. Contact us today for free evaluation, you can trust Pinnacle Auto Appraisers to perform the correct auto appraisal with our experience and honesty.